§ 12-1402

Maryland § 12-1402

• Jurisdiction: Maryland
• Article gcl: Commercial Law
• Title: 12

Text

This subtitle does not apply to a merchant processing agreement between a credit card processor and a business entity:

(1) That may be terminated without assessment of fees, fines, penalties, or liquidated damages; or

(2) If at the time of entry into the merchant processing agreement, the business entity employs 50 or more employees or reasonably estimates that it will generate more than $2,000,000 in credit card or electronic commerce transactions each year.